Single-Family Home Sales in Cincinnati during January 2023
Single-Family Home Sales in Cincinnati during January 2023
Source: Shutterstock_1215843577
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Source: Shutterstock_1215843577
As interest rate decline slightly home sales are picking up. It might be the perfect time to find a home for your Valentine!
The overview below shows real estate activity for January 2023. You will see data comparisons between January and the previous month, the last three months, and January 2022.
The number of new listings in January 2023 was 1,273, up 18.20% from 1,077 from the previous month and -19.02% lower than 1,572 from January 2022. The January 2023 listings were at their lowest level compared to January 2022 and 2021.
New Listings
The number of properties sold in January 2023 was 951, down -33.40% from 1,428 from the previous month and -30.02% lower than 1,359 from January 2022. The January 2023 sales were at their lowest level compared to January 2022 and 2021.
The Absorption rate is the avg number of sales per month divided by the total number of available properties
Property Sales & Absorption Rate
The median sales price in January 2023 was $242,500, down -1.72% from $246,750 from the previous month and 6.36% higher than $228,000 from January 2022. The January 2023 median sales price was at its highest level compared to January 2022 and 2021. The average sales price in January 2023 was $290,190, down -1.13% from $293,499 from the previous month and 5.18% higher than $275,895 from January 2022. The January 2023 average sale price was at its highest level compared to January 2022 and 2021.
Average & Median Sale Prices
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move toward a buyer’s market, and a downward trend tends to indicate a move toward a seller’s market. The DOM for January 2023 was 33 days, up 32.00% from 25 days from the previous month and 37.50% higher than 24 days from January 2022.
The January 2023 DOM was at its highest level compared with January 2022 and 2021.
Days on Market
Pricing is still a critical element as real estate becomes more balanced between buyers and sellers.
Activity by county according to CincyMLS.
The market continues to change. For in-depth reports on sale prices in your neighborhood-send a request for a full market evaluation. Anything else – Call/Txt
